Bajaj Finserv Ltd

Bajaj Finserv Ltd

₹ 1,644 3.87%
28 Mar - close price
About

Bajaj Finserv Ltd. is the holding company for the various financial services businesses under the Bajaj group. It serves millions of customers by providing solutions for asset acquisition through financing, asset protection through general insurance, family and income protection in the form of life and health insurance, and retirement and savings solutions.[1]

Key Points

Revenue Split
Life Insurance: 25% in FY22 vs 55% in FY18
General Insurance: 28% in FY22 vs 0% in FY18
Retail Financing: 45% in FY22 vs 43% in FY18
Investment:1% in FY22 vs 2% in FY18. [1] [2] [3]

  • Market Cap 2,62,274 Cr.
  • Current Price 1,644
  • High / Low 1,742 / 1,250
  • Stock P/E 224
  • Book Value 40.6
  • Dividend Yield 0.05 %
  • ROCE 20.3 %
  • ROE 15.2 %
  • Face Value 1.00

Pros

  • Company is almost debt free.
  • Company is expected to give good quarter
  • Company has been maintaining a healthy dividend payout of 19.7%
  • Company's median sales growth is 35.8% of last 10 years
  • Company's working capital requirements have reduced from 21.1 days to 15.0 days

Cons

  • Stock is trading at 40.5 times its book value
  • Company has a low return on equity of 10.4% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Finance Industry: Finance & Investments

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
19.73 250.70 22.89 349.08 222.03 29.83 341.24 671.33 32.84 31.06 595.21 1,011.05 49.40
35.42 35.64 39.09 49.19 45.35 27.93 43.90 46.10 42.91 36.88 53.78 51.60 49.04
Operating Profit -15.69 215.06 -16.20 299.89 176.68 1.90 297.34 625.23 -10.07 -5.82 541.43 959.45 0.36
OPM % -79.52% 85.78% -70.77% 85.91% 79.57% 6.37% 87.14% 93.13% -30.66% -18.74% 90.96% 94.90% 0.73%
26.94 17.09 17.93 18.32 49.60 19.32 15.60 18.09 17.00 20.45 8.06 8.02 7.90
Interest 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Depreciation 1.17 1.25 1.20 1.24 1.07 0.71 0.78 0.79 0.80 0.83 0.83 0.88 0.89
Profit before tax 10.08 230.90 0.53 316.97 225.21 20.51 312.16 642.53 6.13 13.80 548.66 966.59 7.37
Tax % 16.67% 26.94% 30.19% 24.76% 25.18% 17.75% 25.34% 24.50% 19.58% 31.45% 26.46% 21.96% 40.43%
8.40 168.70 0.37 238.49 168.50 16.87 233.05 485.08 4.93 9.46 403.51 754.34 4.39
EPS in Rs 0.05 1.06 0.00 1.50 1.06 0.11 1.46 3.05 0.03 0.06 2.53 4.73 0.03
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
136 142 154 209 249 163 252 448 815 392 696 1,147 1,687
35 45 49 51 55 60 84 121 130 142 162 170 191
Operating Profit 101 97 105 158 194 103 168 327 685 250 535 978 1,495
OPM % 74% 68% 68% 76% 78% 63% 67% 73% 84% 64% 77% 85% 89%
8 -17 3 2 2 2 0 0 -0 -0 33 0 44
Interest 0 0 1 0 0 0 0 0 0 0 0 0 0
Depreciation 2 1 1 3 1 1 1 2 3 5 4 3 3
Profit before tax 108 79 106 158 195 104 167 326 682 245 563 975 1,536
Tax % 29% 36% 21% 20% 16% 33% 15% 6% 2% 27% 25% 25%
77 51 84 126 163 70 142 307 667 179 424 733 1,172
EPS in Rs 0.48 0.32 0.52 0.79 1.03 0.44 0.89 1.93 4.19 1.12 2.67 4.60 7.35
Dividend Payout % 28% 47% 33% 22% 17% 40% 20% 13% 12% 27% 15% 17%
Compounded Sales Growth
10 Years: 23%
5 Years: 35%
3 Years: 12%
TTM: 57%
Compounded Profit Growth
10 Years: 27%
5 Years: 39%
3 Years: 3%
TTM: 58%
Stock Price CAGR
10 Years: 36%
5 Years: 18%
3 Years: 20%
1 Year: 32%
Return on Equity
10 Years: 9%
5 Years: 12%
3 Years: 10%
Last Year: 15%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 72 80 80 80 80 80 80 80 80 80 80 159 159
Reserves 1,373 2,328 2,383 2,481 2,616 2,686 2,800 3,055 3,456 3,721 4,289 5,089 6,313
0 0 0 0 0 0 0 0 0 0 0 0 0
59 74 74 80 51 48 47 58 65 68 70 70 170
Total Liabilities 1,505 2,481 2,537 2,640 2,747 2,814 2,927 3,193 3,600 3,869 4,438 5,318 6,641
71 70 70 75 75 74 73 73 158 159 110 115 114
CWIP 0 0 1 1 1 1 8 33 0 2 4 4 4
Investments 1,401 2,367 2,427 2,514 2,379 2,666 2,758 2,937 3,340 3,495 4,191 5,078 6,407
32 45 40 51 292 73 87 149 102 213 133 120 116
Total Assets 1,505 2,481 2,537 2,640 2,747 2,814 2,927 3,193 3,600 3,869 4,438 5,318 6,641

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
202 47 84 39 96 42 142 312 639 169 611 788
-206 -962 -55 -15 179 -264 -104 -237 -575 -149 -565 -805
-18 914 -24 -28 -55 -1 -28 -28 -119 -0 -48 3
Net Cash Flow -23 -0 5 -4 221 -223 11 48 -56 20 -3 -14

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 5 4 2 7 12 1 6 0 0 0 1 0
Inventory Days
Days Payable
Cash Conversion Cycle 5 4 2 7 12 1 6 0 0 0 1 0
Working Capital Days -105 -109 -126 -80 1 17 23 18 11 25 23 15
ROCE % 8% 6% 4% 6% 7% 4% 6% 11% 20% 7% 13% 20%

Shareholding Pattern

Numbers in percentages

8 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
60.80% 60.80% 60.80% 60.80% 60.77% 60.80% 60.75% 60.75% 60.78% 60.79% 60.69% 60.69%
9.07% 9.55% 8.92% 8.78% 8.50% 7.38% 7.48% 7.81% 7.03% 7.17% 7.66% 7.91%
6.09% 6.00% 6.65% 6.75% 6.97% 7.70% 7.01% 6.91% 7.10% 7.30% 7.09% 7.48%
23.87% 23.49% 23.50% 23.55% 23.65% 24.03% 24.60% 24.39% 24.95% 24.66% 24.31% 23.70%
0.18% 0.16% 0.13% 0.12% 0.11% 0.09% 0.16% 0.14% 0.13% 0.10% 0.25% 0.21%
No. of Shareholders 1,94,1741,76,2192,02,1882,27,9732,43,8532,99,3805,63,4326,31,4367,36,5966,91,2346,60,2955,85,220

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Documents

Concalls